Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

So anyone thinking of selling before end of 2014

Options
  • 08-10-2014 12:21am
    #1
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭


    Lots of speculation in relation to impact on property prices with new lending practices being brought in by the CB.
    I'm not sold either way to be honest but admit I am tempted to stick an ad on Daft and see if any crazies in a rush to buy before December 31st make an offer I can't refuse.

    Anyone that thinks prices will fall of a cliff prepared to put their property where their mouth is?


Comments

  • Options
    #2
    L1011
    Registered Users Posts: 68,903 ✭✭✭✭L1011


    Fairly little chance it would close in time, at this stage.


  • Options
    #3
    Eldarion
    Registered Users Posts: 484 ✭✭Eldarion


    11 weeks from sale agreed to closing isn't THAT aggressive a timeline to be fair.

    But with people taking time off work for the holidays and buyers/sellers generally not wanting to be moving around that time anyway you could argue it would have to be keys handover in 9.

    Back to the OP, I think your time horizon is too soon. I don't think we'll see a plummet in prices in a matter of 2 months, we don't even have concrete figures surrounding the proposed restrictions on lending yet do we? I'd expect it to be mid next year before we'd see the impact unless the restrictions turn out to be very stringent.


  • Options
    #4
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    MYOB wrote: »
    Fairly little chance it would close in time, at this stage.

    The banks will honour existing loan offers.
    For the the price of a daft ad it could be worth going fishing.


  • Options
    #5
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    what if 100's of others do the same? That would mean loads of stock becomes available before the end of the year but will the sellers accept if they didn't reach their asking price?


  • Options
    #6
    L1011
    Registered Users Posts: 68,903 ✭✭✭✭L1011


    Eldarion wrote: »
    11 weeks from sale agreed to closing isn't THAT aggressive a timeline to be fair.

    But with people taking time off work for the holidays and buyers/sellers generally not wanting to be moving around that time anyway you could argue it would have to be keys handover in 9.

    Difficult to get the house on Daft before the weekend unless you already had everything showhouse ready. Be a day or two before you get any viewings, day or two minimum before you get offers in and agreed - we're now to mid October. Nearly the entire month of December is a write off. We're down to maybe 7 weeks, which is a fairly aggressive timeline.


  • Advertisement
  • Options
    #7
    superman28
    Registered Users Posts: 176 ✭✭superman28


    In short,,, yes,, If I were selling a house I would like to sell it at the peak of a bubble,, it largely depends on the usual factors like the price you are looking for, if it is in the 250 - 320k mark,, your first time buyers will get hammered next year,, if it is more than that,, it might be people trading up so they may have the cash plus a mortgage... Can you pull it off before the end of the year?

    I think the ending of CGT exemption will have a bigger impact, as a huge percentage of properties are currently bought by investors.


  • Options
    #8
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    superman28 wrote: »
    Can you pull it off before the end of the year?

    Loan Offers are generally six months.
    New rules will be applicable to loan offers from Jan 1st (speculation).


Advertisement